Friday, June 1, will be the final day that The E.W. Scripps Co. will see its stock bought and sold on the New York Stock Exchange.
Come Monday, June 4, the company’s shares will be on a different exchange. For investors, Scripps hopes the shift will be seamless and transparent — the company’s ticker symbol is staying as is.
The company, which trades under the “SSP” symbol, elected to move its common stock to the Nasdaq Global Select Market, effective with immediate after-market trading on June 1.
Scripps Class A common stock “is expected to begin trading” as a Nasdaq-listed security at market open on June 4, 2018, and continue to trade under the ticker symbol “SSP.”
However, it is all but a foregone conclusion: Scripps executives are already planning to ring the opening bell for Nasdaq trading on June 29, marking the 30th anniversary of Scripps’ initial public offering on the Nasdaq exchange. It later moved to NYSE.
Explaining the move back to Nasdaq, Scripps President/CEO Adam Symson said, “Scripps is a company in the midst of another evolution to capitalize on the changing habits of consumers. The Nasdaq brand has come to represent forward-thinking companies that, like Scripps, are focused on both short-term excellence and long-term growth for shareholders. We are pleased to be associated with Nasdaq and give our stockholders access to the most advanced trading platform and cost-effective services available today.”
Scripps owns 33 local broadcast TV stations and national multicast networks Escape, Grit, Laff and Bounce.